Malta’s government-backed venture capital initiative has joined the recent $7 million seed funding round of fintech company Bracket, highlighting the country’s continued efforts to attract and support high-growth technology businesses.

The participation was confirmed by Bracket Co-Founder Alex Charles, who said Malta has played an important role in the company’s development and described government support as a key milestone.

Bracket, a London-based fintech founded in 2024 by Mr Charles, Pierre Anderson and Martin Lee, provides AI-enabled FX, treasury and cash management solutions for mid-market companies. The company’s platform helps finance teams automate treasury workflows, centralise banking data and gain real-time visibility across operations.

The $7 million round was led by Macquarie Group’s Commodities and Global Markets business and Blackfinch Ventures, with participation from existing investor Failup Ventures. The new capital will be used to accelerate product development and support expansion plans, including new offices in Europe and Australia and additional hiring.

Government-backed capital supporting innovation

The investment aligns with Malta’s broader strategy to strengthen its innovation and digital economy sectors through targeted equity funding.

Launched in 2024, the Malta Venture Capital (MVC) fund manages a €10 million pool dedicated to investing in start-ups operating within innovative sectors that generate high-value economic activity. The initiative was first announced during Malta’s inaugural TechXpo and later established through dedicated offices inaugurated by Economy Minister Silvio Schembri.

At the time, the Economy Ministry said 46 start-ups had already shown interest in the fund, alongside 16 investors – six of whom applied to partner and co-invest private capital.

The fund focuses on sectors including fintech, ICT, AI, blockchain, life sciences, green energy, digital technology, gaming, film and other innovation-driven industries selected for their growth potential and ability to create quality employment.

Speaking previously, Minister Schembri said the fund aims to strengthen the country’s start-up ecosystem by combining financial support with wider innovation measures.

Malta Venture Capital Chairperson Jesmond Gatt has stated that the initiative is expected to help companies scale operations and generate new investment flows over the coming years.

Local expansion underway

Bracket is also expanding its operational footprint in Malta, recently opening recruitment for three new positions as part of its local office growth: an HR and Office Manager, a Lead Engineer and a Business Development Executive targeting mid-cap corporates across Europe.

The move reflects continued investor confidence in Malta’s positioning as a hub for digital and fintech businesses, particularly as government-backed capital increasingly supports companies with international expansion plans.